Wow… what a long post
Well, first off, allow me to congratulate you on your 10th anniversary of market venture and survival J
And yes, there are many who shared their views and helped me learned quite a bit and shaped my current modified system. This forum, particularly, actually.
Gambling – actually I made a post with the Oxford reference as well in Investlah. And according to the definition, everyone who dabbles in the stock market is a gambler indeed. However, many just could not accept that they are indeed gamblers – in Oxford’s terms. This is regardless of whether it is based on TA or even FA.
Books – I did read a lot. Maybe too much for my benefit, but personally, I have not attended any seminars at all. And I am glad that you see that in the end, we need to suit the contents to our own needs, personality, system etc. In short, we need to make it our own, instead of the authors. Many newbies, myself included when I first started, just blindly follow and when we see a little result, we thought we have found the holy grail. Haha the naivety.
Like the other day, I was chatting with csong. It was funny how when we first started, we look at things in a simple manner. But as times passes by, we complicate things. In the end, we returned back to simplicity. The irony and romance of it – to return back where we first started with a different view. I supposed that was what the journey is about. To understand what we had initially.
We talked about seminars too and we agreed that the only benefit is actually to shorten the learning curve of the student. But doubt that anything new would be taught. And more doubts however, are cast on whether can the student appreciate what was shared since the student would not have gone through the journey/experience that the teacher had.
And it seemed that you have indeed found or in the verge of finding the ultimate wisdom in trading. Though, I do not think I have fully accepted the ultimate wisdom yet, I m still going to carry on and comment on this. Haha
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Trading, in the end, is actually very simple. So simple that it can be told in less than 30 secs. The only problem is whether can one fully appreciate the essence of it. And indeed, it is a one person’s job. Unlike many other profession where teamwork comes into play, trading does not thrive under such circumstances. There can only be one. Haha. So, though I am not a religious person myself, I find your story about Buddha very relevant. J
The best part I liked in your post is still, “You get it means you get it. You didn’t get it means you didn’t get it. That simple. The rest are up to you to travel…” Simply very true. One of the things that made me grew tired of posting or blogging is actually I find that often I need to repeat myself. It is as if what I posted earlier meant nothing. Redundancy to the max! Haha. Example, when I was blogging, I kept saying and stressing the importance of having a trading plan etc. But each time, there will be some who come and post, “I bought so-and-so shares when it was this price and now it is this price, what should I do?” I grimaced everytime I read this type of message. In my mind, “Who’s trading now? You or me?” but anyway, I normally replied with a question, “What does your trading plan say?” and more often than not, the response is either “Oh I have no trading plan” or “What is a trading plan?” *Cough* *Cough*
Nice definition of how market moves too. And on the focue speed of the trend, well, that’s one strategy. And it will work. J But not the only strategy J
Ah, emotional control…. This is where most failed. Actually, I find many people could see the impending turn or end of the trend. But more often than not, they could not believe it. Happens to me as well. Just take the recent selldown of CI. I saw the patterns in formation in both our local market and the US market. But I simply could not believed it. Though my chart says short, I didn’t initially. This is a clear cut example of how I let emotions overrun my charting skills. Then, I regained myself, and managed to catch the low turning point for the rebound. This was done calmly without any regard to what I believe the market should do. Afterall, I am not a market maker. Who am I to say the market should go where. My only task is to decipher the chart and listen to what the market is trying to tell me where it is heading.
Sun Tzu also said,
“Warfare is a great matter to a nation; it is the ground of death and of life;
it is the way of survival and of destruction, and must be examined thoroughly”
But often, many just enters a trade without much homework being done; with high expectations as if the market owes them. Then when the trade doesn’t go well, all hell breaks loose and they point fingers at everyone and everything, except themselves. Ahh… the irony….
So, there that’s it. Oh… poem? Hmm… OK. Here’s one.
Two roads diverged in a yellow wood,
And sorry I could not travel both
And be one traveller, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;
Then took the other, as just as fair,
And having perhaps the better claim,
Because it was grassy and wanted wear;
Though as for that the passing there
Had worn them really about the same,
And both that morning equally lay
In leaves no step had trodden black.
Oh, I kept the first for another day!
Yet knowing how way leads on to way,
I doubted if I should ever come back.
I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I,
I took the one less traveled by,
And that has made all the difference
...Robert Frost
